Petroleum coke market prices remain stable
This week (2024.3.1-2024.3.7) the mainstream price of petroleum coke market remains stable, and some refineries flexibly adjust coke prices based on shipments. Recently, the number of delayed coking unit shutdowns and production cuts in refineries has continued to increase, and the supply of domestic petroleum coke has continued to decrease; however, the performance of downstream carbon companies has been weak, and some companies are still in a state of loss. They are cautious about raw material procurement, but refinery petroleum coke inventories have been low for a long time. , the downstream operations started stably, the demand for petroleum coke still existed, and the refinery shipment performance was acceptable. As of March 7, 2024, the average petcoke market price was 1,887 yuan/ton, an increase of 25 yuan/ton from last week, an increase of 1.34%.
The average daily shipment volume of major ports this week was 27,567 tons, and the total port inventory was 4.0288 million tons, a month-on-month decrease of 0.45%.
Imported petroleum coke continues to arrive at the port this week, and petroleum coke arriving at the port in the early stage is gradually being put into storage. In addition, the port's petroleum coke shipment speed has been stable recently, and the overall port petroleum coke inventory has decreased slightly.
The March CIF price of 2% sulfur pellet coke in the United States is about US$175/ton. The March CIF price of 3% sulfur pellet coke in the United States is around US$155-160/ton. The March CIF price of S5%-6% high-sulfur pellet coke in the United States is around US$120-125/ton, and the March price of Saudi pellet coke is around US$120-125/ton. Formosa Plastics' coke bidding price in March 2024 is around US$172/ton.